CPI Rises 0.2% in September, Driven by Shelter and Food Prices

The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.2 percent in September on a seasonally adjusted basis, mirroring the rises in August and July, according to the U.S. Bureau of Labor Statistics.

Over the past year, the overall CPI has climbed by 2.4 percent before seasonal adjustments. In September, the shelter index rose by 0.2 percent, and food prices increased by 0.4 percent. These two categories contributed over 75 percent of the total monthly rise in the all-items index. Specifically, the food at home index went up by 0.4 percent, while food away from home rose by 0.3 percent.

On the other hand, the energy index declined by 1.9 percent, following a 0.8 percent drop in the previous month. Excluding food and energy, the index increased by 0.3 percent in September, matching the previous month’s rise. Categories such as shelter, motor vehicle insurance, medical care, apparel, and airline fares saw price hikes, while recreation and communication indexes recorded declines.

For the year ending in September, the all-items index rose by 2.4 percent, the smallest annual increase since February 2021. The index excluding food and energy rose by 3.3 percent over the last year, while the energy index dropped by 6.8 percent. The food index rose by 2.3 percent over the same period.

Source: U.S. Bureau of Labor Statistics